In the event that you have already done the work of creating your estate planning documents, it’s a good idea at some point to discuss with your children where these documents are stored.
Adult children should be prepared to ask where they are located and whether these are easily accessible to the named fiduciaries for the estate if the documents need to be used. All of the work of putting together an estate plan is of no use if it cannot be identified in the important moments of crisis.
Storing estate planning documents in bank safe deposit boxes might seem like a great way to protect these from potential fires or getting lost. However, this box could become easily inaccessible upon a person’s passing without a court order. This means that immediate concerns such as burial plans and other requests from the deceased may not be identified or located until weeks after these events have already occurred.
Adult children should also be prepared to ask their parents about whether or not important documents have been saved electronically. This can be an easier way to share critical estate planning documents with other family members. All original copy locations should be known whether or not these are located in a safe, held by an attorney or in some other arrangement. If you are ready to start the estate planning process, schedule a consultation with an experienced attorney today.
